Real Estate 101: The Top Five Red Flags for Homebuyers

Business handshake at work

 

“Home is a place you grow up wanting to leave, and grow old wanting to get back to.” –John Ed Pearce

 

The real estate market has never experienced a rising increase in demand as much as it did today.

While it may experience sporadic periods of highs and lows, the fact remains that more and more people are buying real estate in this decade than any other decade in history. Unfortunately, the resultant effects of this phenomenon can have positive and negative takeaways. For one, the robust real estate market would mean a healthy economy, on the other, however, it could open up the possibility of individuals who would try to leverage the market trend into their favor in the worse ways possible. As it is, the rise in demand for real estate properties would also mean a significant increase in home sellers who would try to sell their properties. However, with the real estate market rife with competition, how do these sellers ensure that their homes would potentially be the one you would select? How do they drive the deal home?

While some would just double their efforts in their endeavor to sell their home, some sellers would resort to less than favorable means in selling their homes. This does not mean that they would outright lie to you, but they would not tell you the entire truth about their homes or it might ruin their chances of striking a deal with you. Sellers who are eager to sell properties in challenging and even difficult communities would not always disclose everything to potential buyers. Unfortunately, getting a professional inspection of every house you tour is not exactly feasible or practical for your finances. Not to worry though, you just have to keep an eye out and be a little more thorough during the house tour. Be meticulous about the houses you inspect and narrow down your choices by doing your own pre-inspection.

Whether the houses you are looking to inspect are located in a lush neighborhood such as Garden Towers or somewhere a little more unassuming, here are some of the red flags you ought to look out for:

 

A major exodus from the neighborhood

Sure, one of the things that a home seller must highlight would be the curb appeal of their homes in order to attract prospective buyers. However, as a buyer, you should not let the visual appeal of the home’s exteriors keep you from examining what is down the street. If you notice that there are several other homes for sale or if nearby businesses have been vandalized or have closed down, electing to live there might not be such a good idea. Talk to your neighbors and ask them about the community. If everyone is looking to leave, you might want to take that as a signal that the home would potentially be a bad investment.

Bad maintenance

Another thing you should look out for is whether or not the home seller took care of their homes and took the necessary measures to ensure its proper upkeep and maintenance while they were still living there. If they horribly failed in this aspect, you might not want to push through with the deal with them. After all, if you can see the gutters with plants growing in them and grime on the home times, it would beg the question: What else did these homeowners neglect and overlook?

Bad smells

A home reeking with fetid smells is a home that has been neglected for far too long. Regardless of whether the smell is outside or inside, it would make you think what sort of surprises there would be in store for you on account of the grody smells. In any case, bad smells should be a huge red flag. However, you should also take into account if the homeowner took the extra measure of spraying their homes in huge amounts of Febreeze or by covering it in potpourri. If the house smells too fragrant and would border on cloying, the home seller is probably trying to mask the more noxious smells.

Fresh paint on only one wall

While it is recommended (at times, even necessary) for home sellers to paint their walls in neutral hues before selling them, there would be something terribly suspect if only one wall is covered and painted. Sure, fresh paint can really bring out the potential of drab walls and boring homes. However, they can also be used as a medium to conceal problems such as water damage, mold or mildew. If the room has strange smells or there are any visible stains in the ceilings or walls, you might want to refer to an inspector who can identify molds and leaks.

Faulty or old wiring

Sure, you are not exactly an electrician but it is best to ensure that the electrical wiring, as well as all the switches, are all in good working order. After all, you would not want to subject yourself to busted circuits, flickering lights, and outlets that do not power anything. If outlets are either warm or hot, there might be an underlying wiring problem which you might want a professional electrician to check.

 

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Exploring Business Locations in the Philippine Property Market

Location is critical to business operations. A great place can attract customers and clients. It perfectly displays products and services. It is accessible to the brand target market, partners, and staff. Considering the hundreds of new developments in the country, it can be a challenge to select a favorable location for an office or a shop.

Settling on the best workplace is imperative. The right business location in a property market adds to the business’ overall growth. Think of the structure of the building and the impact of the area on daily operations. These are the factors to consider when thinking of a business location.

Market Overview

chart, progress, office, people, celebrate

The Philippine Property Market is a growing industry. The country’s consistent macroeconomic policies and high levels of consumption make it one of the strongest performers in Asia’s economies. It’s real estate market regarding office retail, residential, and industrial sectors are expanding. According to Rick Santos, Chairman and CEO of Santos-Knight Frank (SKF), the investment inflow of 2017 created a positive ripple effect across the property sector. The market will perform even better once the government infrastructure projects are in full swing to create a conducive business environment.

Despite the optimism, vacancy in Metro Manila increased by 5 percent during the third quarter of the year 2017 due to the large volume of the additional stock. This is good news for startups and business owners looking for a place to settle. They can choose from the establishments and facilities of high-quality developments in the country.

Customer and Talent Proximity

Dwellers and opportunity-seekers of the North can choose from office spaces in Quezon City. Meanwhile, entrepreneurs and passionate muses can venture into leasing a working area in Makati City. Consider these offices below to discover what the Philippine real estate market has to offer when it comes to office spaces.

1. U.P. Ayala Land Technohub

Referred to as ‘Technohub,’ it is in the center of the country’s premier university for bright young minds. The development comes with facilities and amenities required by a firm drabbling in technology or science. It has a Tech Portal and a Retail Plaza.

2. U.P. Town Center Corporate Center

The expanse of the PEZA-certified office facility lies on Katipunan Avenue. It is part of the University Belt and located within Ayala’s shopping mall. It has access to several retail brands, popular restaurants, and services for workers and residents in the community.

3. Vertis North Corporate Center

The Corporate Center is the latest addition to the office centers in Quezon City. It is part of a community with mixed-use residences, hotel, and entertainment areas. Shops at Vertis North are available at near public transportation for the working class of the North.

4. 6750 Ayala Avenue

Those who value elegance, sophistication, and visibility can fit right in the topnotch office location of Makati. The 6750 building is right beside the highly-rated bistros, luxury boutiques, and serviced apartments. It complements the cosmopolitan lifestyle of the city through its serviced and virtual offices and meeting room facilities.

5. McKinley Exchange Corporate Center

The towering office stands in the corner of EDSA and McKinley Road in Makati City. Though not within the vicinity of Makati Central Business District (CBD), it still has direct access to the MRT station, bus stops, jeepney and shuttle terminals. Conducting business in the area makes it visible to thousands of passengers passing Epifanio de los Santos Avenue (EDSA).

6. Solaris One

The prime property along Dela Rosa Street is BPO-ready. It comes with high-end facilities, centralized chilled water system, high-speed large-capacity elevators, and above- grounds parking lots. It is close to the retail and dining establishments of People Support Center and Convergys One.

These office and retail spaces are in the busy areas of each city. They are close to potential buyers and highly-accessible through different modes of transportation. The hassle-free travel attracts customers and clients to the business. The same goes for promising talents. The short distance and travel time improves their productivity. Employees can provide high-quality work when they have good health and are in the excellent working environment.

Expandability and Equipment

The office space must not only focus on the present. It must also lean into the future. Business will grow and expand in the future. The office must be able to accommodate all the equipment, furniture, and staff it takes in overtime. It is also necessary to have space intended for clients. A room for meeting and transactions makes them comfortable and feel welcomed. At the same time, the location of the business must have ample parking space.

It is a must for a firm to have ample space for their equipment for production and provision of service. Apparatus and machinery must spread out in various rooms to avoid looking cluttered. The working area won’t appear unpleasant when supplies are in their proper places.

Monetary Inclusion

Never invest in office space when you don’t have enough budget for it. Spending beyond financial limits causes financial troubles later on. Ensure lease payments and other expenses fits budget without compromising its quality. There are hundreds to thousands of office spaces available in the Philippines to become the home of a startup or business organization.

The real estate sector of the Philippines continues to exhibit growth as more infrastructure projects are on its way. The demand for mobility, flexibility, and connectivity from freelancers will shape the future office launches in the country. Developers continue to seek opportunity in and out of Manila to supply the need of increasing occupancy rate from various sectors.

 

Send Me Your Location: Retail Spaces

neon sign, restaurant sign, restaurant

Commercial real estate varies from residential. The type and size of a business is a factor when looking into a potential commercial space. A small enterprise with limited inventory could settle in kiosks. Meanwhile, other firms may require spots in shopping malls or a free-standing structure.

There’s no need to rush when deciding on retail space. It’s much better to build a solid conclusion than a half-hearted decision. Below are pointers that can help one decide which is the best retail space for the business.

1. The space covers the business’s wants and needs.

Setting up a restaurant requires a huge floor area as it has a kitchen and a place for diners. A clothing store or fashion house at Solaris One may expect less than a restaurant. Meanwhile, a repair shop can do well with specific square footage especially when it doesn’t make stock items for sale. The size of the retail space will impact its price. It’s essential to note these details, especially when considering a budget.

Other than sticking to a budget, the potential of the business to expand is s factor to consider. The brand may attract customers that will boost sales and require an additional stock of merchandise, seating or service. The space must be enough to cover current needs, but it must also be flexible to allow expansion.

Lastly, the space must share the brand’s story. It must be customizable and ready for changes and renovations for owners and companies to convey their message to customers.

2. Customers and talents are within the area.

Knowing the brand’s target market provides an idea of the geographical location of potential buyers. If the space is in a place accessible to the target market, it gives them the convenience to avail the product or service. At the same time, consider the climate of the business community in the area. A community of supportive and growth-based entrepreneurs helps micro and small businesses thrive. Meanwhile, a competitive landscape is unhealthy for growing companies.

Future employees and staff must also be in mind when scouting for retail spaces. The ease of travel improves productivity at work. A workplace far from home results to tired and haggard talents. Their fresh energy gets worn out during the commute. When the retail space is near the skilled workers, the business gets the best out of its human capital.

3. The price of the property fits the budget.

Going for a retail space that is over the budget is overspending. It cancels the purpose of setting up a business – generate income to earn a profit. An area beyond financial limit causes troubles later on. Still, the space must be a high-quality retail space that suits the brand and enterprise.

4. Public transport and infrastructure are available.

The main concern when considering clients and staff is their convenience of travel. It’s a plus when the retail space is near different modes of transportation and government institutions vital to your operations. Moreover, it is also an advantage when Internet and telecommunication providers cover the business location. Since most transactions are online, the Internet connection will benefit operations by having a more extensive customer reach and streamlining business process.

5. There is space allocated for parking.

Most business owners forget to consider the need for parking spaces. Ample parking space is valuable for clients and people who are part of the company to prefer to reach the area through their vehicles. How hard is it for them to suitable parking space especially in a busy area such as a central business district. These people may choose a competitor with similar products or service because of the lack of space. Be it in front, back or beside the retail space, and the parking space must be accessible to clients.

6. The space must not have strings attached to it.

The full cost of the space comprises the rent, utilities, construction costs, moving expenses, and a list of other expenses that may not be obvious in the beginning. There may be costs associated with the move such as the restoration or remodeling of the space.

7. The lease terms and rental rates must be secure.

To get the best out of a lease contract, it must be subject to renewal. Any increase in rental rates must be subject to review by the landlord and the lessee. Furthermore, survey the rental price if it is the gross or net. Most figures are net. It only shows the base or the payable amount.

8. Furniture, fixture, and equipment is a must for business.

Their retail space must include furniture, fixture, and equipment since they produce products and offer services. Stocking these items in a corner contributes to an unpleasant environment. The retail space must be roomy for the bulky items. That is a property where rooms are not scarce is a keeper.

Retail Spaces Need the Time and Place to Come Through

The needs of the business entity as well as its customers and staff make up the factors to use as a guide when choosing a retail space. Besides these factors, the basics of deciding on real estate decisions such as lease terms, property price, additional expenses, as well as proximity to modes of transportation and infrastructure, affect the attractiveness of the space.

Note: This article was first published on May 5, 2016, as “Where Should You Locate Your Business?” It was revised and updated for accuracy and comprehensiveness.

Real Estate Investments: Four Factors and Aspects to Consider in Pricing a Home for Sale

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“The art of selling one house is different than the science of repeating it flawlessly over and over”-Chantel Ray

An excellent sentiment to keep in mind when it comes to selling homes is to price it right. As the maxim goes, if you price it right, it sells overnight. Should your price it wrong, then it stays on too long. With this in mind, giving your properties a fair selling price should be one of the significant considerations you should take into account. Although there is a myriad of factors that go into a buyer’s decision in closing a deal with a home seller such as the location and features of the home, the asking price of the property is of paramount consideration. However, how does one ensure that the home is priced just right? How do you come up with an asking price that would encourage a timely sale? Indeed, this has been a feat that has evaded even the most seasoned of home sellers as well as professional realtors. Considering that the real estate market is perpetually in an erratic state, coming up with an ideal price that would be a fair deal to both home buyer and seller as well as encourage a quick sale is something that would require years upon years of experience complemented with professional expertise—and even then, it does not always guarantee you an opportune sale.

Numerous studies have indicated that should a home remain on the market for quite a long time, there is a likely chance it would not fetch as much money as it would have when it finally does sell. This can be quite the predicament—especially if you have found yourself stuck with a property that would not sell because you priced it exorbitantly. For this reason, pricing a home correctly from the get-go is an imperative factor to consider. However, while accurately pricing your home to the dot is not easily done, it is very much doable. All you would need to do is to have an understanding as to how to go about the pricing process.

If you think you can con your prospective buyers into agreeing on a higher asking price, you may need one to reconsider that. Take note; your prospective buyers have all the access to a considerable amount of information about your home. With this type of information at their disposal, it will be implausible for a buyer to purchase a home at a price that is considered above market value. Unfortunately, quite a lot of sellers are under the impression that pricing a home higher would result in higher sales. Believing this sentiment could potentially be damaging to your revenue as the longer your home sits on the market, the more inclined you will be to reduce its price. In some cases, you might even be constrained to trimming it so that you can sell it. Pricing your homes right should be a vital consideration—regardless of whether you are selling a home or property in One Serendra or elsewhere. To ensure that value your home close to the appropriate asking price as you can, here are some of the factors you should consider:

1.) The condition of the market

Generally, before even thinking of selling a home, the standard practice is to take a long and meticulous look at the housing market. After all, if you do not scrutinize it well, you would not be able to come up with a realistic asking price. For some time, the real estate market has shown signs of improvement. But, do not let this be the sole basis of your asking price as over the years, there have also been several dips that might consequently result in more dips as time goes on. Selling on a slow real estate market climate means having to price your homes competitively—that is if you wish to move the house. Alternatively, you can bide your time and wait for things to improve. However, if the market does not recover, you would be compelled to pricing your home lower than what it would have fetched should you have begun at the outset.

2.) Compare sold properties

One aspect to consider when pricing your home right is to take a look at recently sold properties that are in your area. Apart from that, look for properties similar to yours and come up with a figure that would be both fair to you and your buyer. The population density of your area should be a consideration. If you live in a particularly populated city, your search should only be limited within a mile of your home’s location for recently sold homes.

3.) Consider current inventory

If you wish to have an approximate feel of how competitive the real estate market is, take a gander at the current home inventory in your area. If there are a plethora of houses similar to yours at the moment, you would need to price your home a little more aggressively to attract attention—particularly in a competitive market climate. However, if there are fewer homes for sale, you can price your homes a bit higher if you wish as there would be quite a number of people looking to buy. However, the main driving point for your asking price is to ensure that your home stands out from the other homes on the market. It should be distinctive and should attract attention.

4.) Compare active properties

Apart from taking a look at the overall home inventory in your area, another thing you should consider doing is to analyze other properties that are currently for sale while you, yourself are selling. Homes that are already on the market have already gone through the very same processes you subject your homes go through. With this in mind, the prices of these homes would give you a rough estimation of how much your asking price should be. If you priced your homes higher than comparable homes, you run the risk of the house sitting and not selling. As a result, your home would be less valuable.

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Rental Investments: Five Excellent Tips to Prepare for A Rental

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“To stand out, you just need to do a few things others are not willing to do.” –Michael Hyatt

There has been no question that renting out one of your unused properties is an excellent avenue for real estate investment. However, with a myriad of rental properties in almost every nook and cranny in the city (from condo units in Avida Towers Centera to apartment units elsewhere), how do you ensure that your rental property makes the cut and gets selected? Remember, every single day that you have a vacancy at your rental property is considered a loss of potential profits. However, while tenancy is mostly a hit or miss thing and has more to do with your luck in finding tenants than anything else, there are ways of ensuring that your rental properties would entice tenants to rent it out.

Apart from being situated in proximity to schools, offices and entertainment hubs, it pays to prepare your rental properties for occupancy by tenants. So, if you have been thinking of renting out any of your properties, here are some tips that would not only help you navigate through the process but make it a bit easier as well.

1.) Start the process at least six weeks out

Of course, if you are getting ready for tenancy, a little work goes a long way to ensure that the home is ready for occupants. Apart from ensuring that the home is rental-ready, you would also want to present it at its best before you even start giving your prospective tenants a tour of the home. Take note; most tenants start scouring the neighborhood for potential homes at least a month prior to their move. So, start at the earliest possible time.

2.) Spruce it up

Of course, part of beautifying your rental properties as well as making an excellent first impression on your prospective tenants is to make sure that the unit you are presenting to them is clean. Apart from cleanliness, you should also invest a little in giving it a little touch-up. Spend some time and money in applying a fresh coat of paint on the walls, incorporate fresh flowers into the home, get rid of the clutter and organize. Remember, tenants, are more inclined to rent a unit that is not only well-prepared but clean as well.

3.) Change your insurance

Whatever existing policy you have might not be sufficient enough to cover you should you become a landlord. So, before signing a lease, it is best if you find time to down with your insurance agent and discuss what available coverage options you have. Ask them about their landlord’s policy which is also known as a dwelling policy and update your existing coverage.

4.) Do not overlook legal technicalities

Before drafting your lease contract, research the existing laws of your area first. Chances are you would be required to obtain licenses and permits. Furthermore, you would also need to undergo an inspection. In most areas, tenancy is considered a business which would inevitably require a license from you—regardless of whether it is only for a single property or a series of properties. Learn the requirements of being a landlord and tenancy before renting out your home to mitigate the risk of getting into legal snarls.

5.) Decide if you will accept pets

Know that even though you will have more prospective clients should you accept their furry friends as well, there will also be some tenants who would not be so receptive to sharing a roof with four-footed creatures. However, ensure that you and your tenant are on the same page when it comes to pet policies. It would not hurt to make sure that he or she is a responsible pet owner as well. Your pet policies should be in place in order to prevent costly damage, noise and other pet-related problems. Moreover, you can then decide whether you will charge pet rent or fees.

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Sustainability in Urban Design

It is not enough for a place to be habitable. It also needs to be sustainable.

Urban design is the process, design, and organization of public space, transportation systems, and open space. With half of the Earth’s population crowding in cities, urban design needs to take a hard look at its mechanisms. Each city must commit and choose sustainable development. The Philippines in terms of population and the economy exponentially grows each year. But, the land areas of its cities remain the same. The same rings true in other cities across the globe. Three (almost four) billion people stay in these urban areas. Therefore, the role of urban design has a significant impact in today’s contemporary way of life.

According to a United Nations’ (UN) report, 60% of the Earth’s population will crowd cities by 2030. This is not good news for various reasons.

Millenials are slow to pick up the traces of needing change concerning their way of living. Thus, it is better for the current millennia to have the collective movement of individuals, industries, and countries to commit to change. The foundation of inhabitation – the Earth, is ruined and its cries are getting louder. The natural structure of planet is sacrificed to have the luxurious comfort of the modern life. The towering skyscrapers, concrete housing units, and asphalt plazas are chosen over the lush greeneries and the natural wonders of the world.

Urban Development

Urban development is a perennial threat to nature. Fortunately, developers like Ayala Land Inc. (ALI), considers the site’s ecosystem in their planning and design. Bobby Dy coins the term “eco-efficient.” It is a simple yet effective word that summarizes the purpose of their city districts. Natural resources or the natural state of the land area should not be sacrificed because of urban design and development. ALI patterns their design to the area’s original state.

The best example of eco-efficiency is their dynamic suburb in the South, Nuvali. Nuvali has a long stretch of green grass park and open spaces. The structure mixes modern suburban living with green zones and forestry. It also encourages recreation and outdoor activities which are refreshing for the modern dwellers.

Organization and Open Spaces

Although aesthetic plays a major role in urban setting, it is important for a developer to consider general public interest and not be biased towards age and way of living. When the city or structure is open to everyone, the need to have access to additional public infrastructure is removed. The environment becomes inclusive and inclined to only one goal – providing for the years to come.

Ayala Land is best known for their wholesome urban design. The company follows its focus areas as a guide during planning – resilience, pedestrian and transit connectivity, eco-efficiency and local economic development.

Their latest land developments incorporate wide spaces and parks. Having these spaces encourages time off the digital world and physical activity. It also lessens the dependence on vehicles as these places are conducive to walking. Most importantly, it discourages cul-de-sacs which can be rampant in urban areas. The design also creates low-carbon cities because they become walkable and mass transit-oriented. This is much more sustainable and healthier for the people. It also gives a high quality of life to residents.

Economic Vibrancy

A thing, structure or endeavor that is sustainable is said to solve today’s problems while also providing for the problems of the future. Generations to come should meet their own needs using these structures and environment-friendly solutions. Thus, it should be an enabling environment.

Rapid urbanization puts pressure on resources. Densely-packed cities can lack sources of fresh water supply and strain the living environment and public health. During planning, local and small-scale businesses are heavily considered. The shops and stores should be strategically placed so they may contribute to poverty reduction. There should also be designated spaces for public utility and health services.

Cloverfield, an ALI development in the North, is an example of a well-planned community that employs living, retail, and health. The development has a residential tower, shopping mall, park and a hospital – all within walking distance.

Well-planned public spaces commune communities and people together. Physical and cultural activities, recreation and play, are also encouraged. The spaces restore a sense of place, identity, and pride in an area, and play a significant part in attracting businesses and jobs. Thus, poverty is reduced.

Technology has picked up speed on constructing megacities, but it has not made low-carbon cities. Local and international urban development still have a long way to go. Choosing to be sustainable goes back to planning, where all the aspect of the building is considered. When the vision for the future is clear, urban design will manifest through eco-efficient development.

A Guide to Suburban Neighborhood in the South

There’s a sprouting suburb in the South, and you don’t know if moving there is a good move.

Vermosa is a suburban development that features active living. It’s in Cavite, and it perfectly combines residences, retail spots and business hubs in one area, which make it seem like a good place to settle down. But hold your train of thought. Did you consider what you need to know before buying a house? Do you know what kind of neighborhood will be at Vermosa?

Before setting your sights on this new development, read on to find out the standards of what makes a good neighborhood.

There are street walks.

And those streetwalkers are for walking.

Some residential communities are disorderly, so cyclists pass through pavements instead. A neighborhood with functional road walks prioritizes walking over the use of vehicles. Low-carbon communities have sidewalks wide enough for bicycles and establishments. It gives the cafés liberty to set up tables for outdoor lounging.

A spacious sidewalk also gives room to set up benches – a great feature for relaxation and people watching.

 

There are various transportation modes.

What a nice feeling to have when travel from work to home is a breeze. Often, an exclusive neighborhood isn’t commute-friendly and is only accessible through private vehicles. An ideal community should be available through different road networks. You can get to Vermosa via Daang Hari Road, SLEX through the MCX exit, and the upcoming Cavite Laguna Expressway (CALAX) Road – which are also the routes of public transportation. The proposed LRT 6 will pass through Daang Hari Road which makes Vermosa accessible to the bulk of passengers. The community is also less than an hour away from Makati, Manila, Muntinlupa, and Tagaytay.

 

There is a foundation for education.

De La Salle Santiago Zobel School (DLSZ), a member of De La Salle Philippines (DLSP), is an established educational institution in the South. It will open its second campus in Vermosa to provide quality basic and secondary education. DLSZ is also an establishment that pronounces spiritual and moral maturity through the teachings of Christ.

The DLSZ-Vermosa Campus will implement the Next Generation Blended Learning Program which will include the latest trend and innovation regarding teaching strategies and educational research.

 

There are high-value residences.

Property value varies greatly from one development to another. A neighborhood with quality housing options allows people with the different financial capability to lead a quiet and comfortable life. When there are lots of people are waitlisted, it is a sign that the particular neighboorhood is hot on the market.

Vermosa will have diverse living options with Ayala Land’s urban residential developers – Alveo, Avida, and Ayala Land Premier. Alveo offers upscale residences while Avida is perfect for compact city living.

Since Vermosa is a new community, most of the people in the neighborhood are homeowners. An area with high rate of homeownership is stable. Renters are mobile and flaky, so they don’t add value to the community. Long-time residents have been there all way. They watch out for their neighbors, which makes the area feel safe and secure.

 

There are communal facilities.

 

Vermosa has a total of 165 hectares of open space for wellness and recreation, training facilities, and retail shops.

There’s Vermosa Sports and Lifestyle Complex which will have an Olympic-sized pool, a 400-meter track oval, and a Sports Science laboratory that caters to all the training needs of endurance athletes. The MX Track and the Bike Skills Park offer a place to fill the need for speed and thrills for bikers.

There’s Vermosa Midtown, a pedestrian-focused, bike-friendly area with a commercial district. The Ayala Malls Vermosa will be within the limits of Midtown and will complement the active life of Vermosa by housing sports-themed retail stores.

A contemporary active living is kept alive in Vermosa with its engaging facilities for its residents. Besides these amenities, a balanced community should have a place of worship. It shows the collective and strength of the community.

There should be a hospital, police and fire station.

Safety first.

The right neighborhood adds value to the entire community, not just to the houses separately. You can check out if the community is fit for you if it has the qualities on this list besides the things that you want. Your new neighborhood should meet your standards and if you’ve found it in Vermosa, then go ahead. Enjoy the fulfilling life of active lifestyle.

Property Reservations 101

You’ve seen this sophisticated and elegant townhouse Manila for sale. Given that it is near your workplace and your favorite Ayala Mall, you can’t help but purchase this property. What can you do? Reserve!

Reservation is your deposit when you rent a house, apartment, or condominium. You haven’t fully owned the property unless you have paid in full or partial, or depending on the terms agreed upon between you and the seller.

You can now have that condo by reserving it under your name. Property reservation is very easy as you only need the following:

  • seller or property specialist

  • Reservation Agreement Form, and

  • reservation fee

Through the seller or property specialist, you will be able to deliberate which property you should buy, depending on different factors and of course, its availability. After considering these details and confirming the property’s availability, you can continue with reserving it online. You may check the developer’s website and look for the “Reserve Now” or similar buttons to proceed. If necessary, you can also contact the developer for clarifications or reserve the property by visiting their office.

Another important thing is your Reservation Agreement Form. Carefully fill out the form and check all the details and signatures before passing it. If the Reservation Agreement Form is not available online, the developer or seller will be handing it to you. You can simply mail or fax the form to the developer or seller’s office before you proceed with your reservation. If these options do not appeal to you, you can always visit their office and have this done.

Now you’re finished with choosing the property and submitting the Reservation Agreement Form, you are now to pay the required reservation fee. Reservation fee differs depending on the developer and the type of property you are interested in. It can go as low as ₱5,000 and as high as ₱100,000. Aside from cash payment, you can also pay the reservation fee through the following:

  • bank deposit

  • credit card

  • online bank transferable

  • remittance center

  • and other methods advised to you

You will be asked to send proof of payment so make sure to secure an official receipt. Some only give out acknowledgment receipt so better check with the bank or establishment that you have what you need. Afterward, the developer will confirm your payment by sending welcome letters.

Keep in mind that the validity of your reservation fee for new houses in the Philippines is 30 days. Within this period, you should be able to make a partial or full payment for your property. Better ask your developer about the different payment options that you have.

Lastly, here are some other things that you need to know about property reservations:

1. Is it deductible? Definitely! The reservation fee that you’ve made will be deducted from the total selling price. Others deduct the fee from the downpayment.

2. Is it refundable? Unfortunately, reservation fees are non-refundable. That is why you should be sure of your actions and decisions before you consider reserving a property.

3. Is it transferable? It depends on the policies of the developer or seller. Some won’t let you transfer the fees, and others will charge a transfer fee if it’s permitted.

Be reminded that not all properties in the Philippines require reservation fees, so you are to confirm that with your developer or seller. Other developers immediately ask for a downpayment or initial payment. Nevertheless, in whatever reserving and purchasing you will be doing, be sure and secured. Make sure that you will be abiding by the policies you signed for so you can enjoy your property hassle-free!

Real Estate Investment 101: Strategies to Use in Selling Your Condo in the Philippines

“Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity had devised. It is the basis of all security and about the only indestructible security.” -Russel Sage

With the condo housing market at an all-time high, it would be readily apparent that condominium towers would be proliferating almost every corner in any major city in the Philippines. After all, condo living affords a unique lifestyle option that allows for convenience and maximum accessibility. Most real estate developers would build their condominium towers in proximity to major offices, schools, and entertainment hubs–making it a premier housing option for young professionals, newlyweds, and families.

Considering how competitive the housing market for condominiums is, it would be no question that selling your condo unit might be a bit difficult—even in places where the demand for them is the highest such as in Arbor Lanes. However, there are a few tips and techniques to help you sell your condo a bit faster and to make your transactions a lot easier. Do not be mistaken though, the logistics in the sale of a condo unit would involve a great deal of patience (Do not expect to a close a deal right away). Do your research, be prepared to compromise and negotiate, otherwise here are some useful tips to make your condo selling endeavor a smooth-sailing one.

1.) Know when the best time to sell your condo is

When it comes to selling any kind of real estate, timing is a pivotal factor that contributes to the quickness or delay of a sale. Additionally, it would also play a crucial factor in how much you could actually profit from selling your property. Before selling your unit, have an understanding of how property cycles move. In this way, you can determine how far along the property clock would yield more and much better profit. Recurrent events such as rising prices (also known as the boom phase), fall of prices which is the (slump phase) and stabilization phase (essentially known as the recovery period) would comprise a property cycle. Familiarize yourself with this and put your condo up for sale during the market peak where the boom phase occurs.

2.) Determine your property’s market value

Apart from knowing how to time your sale, it is also vital that you know how to price your condo unit appropriately. If you price it too low and you may end up losing profit, and if you price it too high, it will take you longer to close a deal. Consult a professional and have them give you advice as regards the price of your property, or you can try a different tack by looking at online listings that are similar to your property.

3.) Look for potential buyers

More often than not, the sale of a real estate property would be significantly faster with the assistance of a professional such as a real estate broker who would serve as the middle person between you and the buyers. However, this would come at an added cost, and if you do not wish to make that monetary expense, you can always put your condo up in the housing market in online listings. There are websites that would offer free listing where you can list your property. However, do not limit yourself there, advertise wherever you can and go beyond free listing websites. Put up your listings on social media platforms and encourage your friends to share it themselves too.

4.) Secure the necessary documents

Before finally putting your condo up for sale, make sure you are in possession of all the legal documents required to sell it. This will expedite the process of ownership transfer and would make the transaction a lot smoother. Some of the documents you would need areas listed below:

*Certified True Copy of Condominium Certificate of Title from the Register of Deeds
*Certified True Copy of Tax Declaration and Real Estate Tax Clearance for the present year from the City Assessor Office
*Certificate Authorizing Registration and Tax Clearance from the Bureau of Internal Revenue

 

6 Things to Do Before Hiring a Mover

 

 

What comes to your mind when we talk about moving out? Perhaps, a lot of you will think about what to do to make sure that there will be no damages while moving the things.

That is why most people would prefer hiring some professional movers to make sure that their things are still intact after the transfer. You may be moving into your new condo in Quezon City or any other real estate properties in the Philippines, hiring a mover is a good choice. However, you also have to know that not all movers are professional enough to do their job properly.

There are actually a lot of things you need to consider before deciding what moving company you should choose. And if you are one of those people who are first timers in hiring a mover, you might as well refer to these tips below on how you can effectively hire a mover.

1. Get recommendation

One of the things you might want to consider is the recommendations from your family and friends. Since they suggested that particular moving company, that means they trusted them when it comes to handling the things of their clients. Obviously, they will not recommend it to you when they know that mover is not that trustworthy enough to do the job properly.

 2. Do an initial screening

When choosing the right moving company, don’t just stick to one option. You must have a list of the companies you may want to hire. And for you to know if they are good enough, do some initial screening on them. Well, you can base your judgments on the reviews from their clients on whether they have a good service or not. And if they don’t have high ratings when it comes to the services they gave, then you might as well find another one.

3. You should end up with at least three or four companies to call for an in-home estimate

After narrowing down your options, make sure to end up with at least three or four companies on your list. Well, that is for you to make sure that if one is not available at that moment, then you still have the other three options for you to call. Just make sure that those remaining companies in your list are all trustworthy and professional enough on their field of work.

4. When an estimator comes to your home, show home everything

When you hire a mover, you should also expect that there will be estimators that will come to your home. Of course, they have to know how many moves will it takes to transfer all of your belongings to your new home. From the things in your closet, backyard, basement, and even in the attic, you have to show them everything. This will also give the estimator an idea on how much you should pay for the overall moving package.

5. When you’ve gotten all your estimates in, compare the bids

Whether you realize it or not, each moving company has their own way to estimate your things. That is why it is a must for you to know which company offers a lower price than the other. Moreover, don’t forget to make sure if there are any add-ons on the overall cost of the moving process.

6. Make sure your moving company has the license and insurance it needs to move your things legally

For you to avoid any complications later on, you need to make sure that the company you choose is legally enough to do the job. At least, if there will be some problems later on, at least you know where to complain. Moreover, this is also to ensure that they are not any scammers who will trick you will a higher price yet with a lower quality of moving services.